Best Brands is the only marketing award that measures brand strength based on two key criterias, economic success in the market, and popularity among consumers, and is entirely based on the results of comprehensive representative research conducted by GfK. The award was established in Germany in 2004 as an annual project of the Serviceplan Group communication group. The global partner in all countries where Best Brands is hosted is GfK, the largest in Germany and the fourth largest research group in the world. Previously, the ranking of brands carried out either on the basis of their popularity in terms of consumer perception, or on the basis of the brand's commercial results in the market. Best Brands is the first rating combining these two components: emotional brand perception and profitability. A distinctive feature of this event is that the winner is not selected by the jury, but by the consumers themselves. Prize winners are determined through a comprehensive representative study conducted by GfK.
A brand's rating is determined by its "strength" and consists of:
- Market success: brand share and consumer preference;
- Attractiveness in the eyes of the consumer: fame as well as emotional perception.